Shares of SusGlobal Energy Corp (OTCMKTS:SNRG) have been trending lower in the past week with a fall of 7%.
Market Reaction
On Thursday, SNRG stock ended flat at $0.24 with 49K shares, compared to its average volume of 123k shares. The stock has moved within a range of $0.2250 – 0.2600 after opening trade at $0.24.
Earnings Recap
Developer of SusGro, award-winning revolutionary pathogen-free organic liquid fertiliser and Leader in Circular Economy, SusGlobal Energy Corp (OTCMKTS:SNRG), on November 18, 2021 announced financial results for quarter three ending September 30, 2021 and gave update on operational progress.
The firm had purchased wholly-owned subsidiary, SusGlobal Energy Canada I Ltd, located at at 520 Nash Road North, in Hamilton, Ontario, including Environmental Compliance Approvals for processing 65,884 metric tonnes per annum of organic waste all days of the week. In August 2021, the firm retained award winning firm ZAS Architects for designing and developing recently purchased Hamilton facility, which would be designed harnessing Building Information Modelling with advanced visualization and energy modelling.
The firm had also announced being the recipient of “2021 Product Innovation Award in the Fertilizer Market” on August 24, 2021. This makes the company globally recognised one for its inspiring circular economy solutions. In November, the firm announced that wholly-owned subsidiary SusGlobal Energy Belleville Ltdsigned an Offset Development and Marketing Agreement with Blue Source Canada ULC for developing and marketing greenhouse gas offset credits from the firm’s 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility in Belleville, Ontario.
SusGro also entered into securities purchase agreements in October 2021, enabling investors to buy 15% unsecured convertible promissory notes amounting to $1,765,120.
Traders Review
SNRG stock is trading above the 20-Day and 50-Day Moving averages of $0.24 and $0.23 respectively. However, the stock is trading below the 200-Day moving average of $0.27. The stock is up 3% over the past month.
